social program face a cut back in president obama's budget. we expect to see this released next week. and the article says that the president plans to propose a new inflation formula that would have the effect of reducing cost of living payment for social security benefits. there would be protections for those in the low-income bracket and old beneficiary. what do you think about this? >> guest: we have seen the new job numbers come in this morning, and every time those numbers dip, i think it's now 7.6% this morning, it's a hopeful sign that there's a recovery kicking in to place. i think the misplaced obsession with debt and deficit which the social security cut is part of is just crazy. social security, by the way, shouldn't be in the same sentence with the word deficit. the social security has nothing to do -- >> we're going kick it off now. i've within told to keep it to an hour. we're going try to do that. i'm jody schneider. i'm the team leader for congress and tax policy coverage of "bloomberg news" here in washington. we have an -- in